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Do I have to Pay Taxes on a Loan?Navigation: Home > Legal Questions >Do I have to Pay Taxes on a Loan?
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A loan of any type, including a home refinancing loan, a personal loan, or a business loan, does not constitute income because you have to pay it back. Because it is not counted as income, you do not have to pay any taxes on it, unless, of course, you never pay it back, in which case it becomes income that you have to pay taxes on. |
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